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No, regular gasoline is not the same, or quite as good as premium gasoline. Let me explain the difference as it was explained to me in mechanic school. The extra additives in premium unleaded gasoline actually slow down the rate at which it burns. The higher the octane rating, the slower the actual combustion rate, and vise versa.
What does this mean to your engine? Regular (87 octane) can operate similar to a hammer driving the piston down to the bottom of its stroke (known as detonation) while Premium (93 octane) is more like a foot pushing down on a bicycle pedal. The later is a much more efficient expenditure of energy. I am over exaggerating for illustrative purposes as the difference isn't that dramatic unless you are operating a higher performance engine. If your car is labeled "PREMIUM FUEL ONLY" then you should stick to the recommendation. It will pay for itself anyway by getting you a mile or two extra per gallon (in my own experience).
Most cars today are designed to operate on the regular grade of gasoline and are not harmed in the least and those engines should suffer no ill effects. Still, the higher octane ratings will be more gentle to your engine over its lifetime.

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